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Wednesday, 20 July 16
EDIBLE OIL MARKETS ACROSS THE GLOBE REMAIN UNDER PRESSURE - STELIOS KOLLINTZAS
 The edible oil markets across the globe remain under pressure on the back of lackluster demand. Some of the main factors causing the low activity are seasonality, increased stocks and wet and dry weather conditions in the west and east respectively. While S. America activity has already been ‘’hit’’ by the summer seasonal cool-off, effects of El Nino are still evident on the palm oil exports from SE Asia. Needless to say that the impact of this has resulted in long lists of ships available and has pushed freight rates down to new lows. In the meantime, the CPP market in both the Atlantic and the Pacific has not provided support to Owners looking to escape the dull palm and vegetable oil market and has further extended their feeling of uncertainty.
Against Owners’ expectations, the traditional increase of demand before and after the Ramadan has failed to materialize this year. India and Pakistan, the main demand sources, have been very slow, while Europe and China have also been weak. However, the Middle East and Red Sea markets have experienced healthier activity, still not enough to absorb the ample tonnage around though. Palm oil shipments have been 8.5% lower in June compared to May, forcing a number of Owners to heavily compete for each cargo that becomes available in the market. Hire rates during the past month for the usual long haul MR TC Trip to Med-Continent-USA bss delivery at charterer's preferred load port, have dropped from $16,500 to $15,000 per day at the time of writing, the lowest fixing levels in a long time. As far as the regional SE Asia market is concerned, there has been a slight increase of cargoes quoted as charterers look to replenish their stocks, but overall the market is still far from achieving a balance.
After many months of a rather firm market, freight rates on the edible trade lanes from S. America have softened. Having been the strong leg on the triangulation trade for the dedicated on the edible oil market Owners, it has finally followed the rest of the routes on the downside. This is mainly the result of a sharp decrease in Indian demand, which has been traditionally the main destination of vegetable oils from S. America. However, the recent boost of CPP imports into Argentina has led many ships in the area, building as a result a long tonnage list and causing great supply/demand imbalance. On the other hand, there are serious delays on discharging those ships, which causes increased concern to Owners and Charterers that aim to get ships with firm itineraries. With ample tonnage available we do not expect MR veg oil freight rates to firm over the next few weeks. In fact, it is possible that they will soften further. At the moment, the rate for 40k mtons of cargo to India is about USD 36-38 pmt bss 2/2.
The outlook for the Black Sea/Med market is not very different compared to the previous months. Once again, activity is low and it is mostly small parcels that move around. However, there is better luck for FOSFA accepted vessels which are still in demand and able to negotiate better numbers. Despite the slow market, rates have been stable with the usual route to India on 12,000 tons fixing around $ mid/high 50s pmt bss 1/2.
As the summer months roll on, signs of recovery to 2015 levels remain scarce. More likely, palm oil exports/freight rates to India will remain slow until the next festive season of Diwali in October, as for rates ex-S. America things are more complicated, with Atlantic basket CPP fundamentals most likely being the key factor behind the performance of the market there.
By Stelios Kollintzas
Tanker Chartering - Specialized Products Desk
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
Monday, 13 June 16
BALTIC INDEX FLAT, INDEX FOR CAPE RISE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities flat this past week. The freight market was almost same l ...
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- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- MS Steel International - UAE
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Australian Coal Association
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